The rupee appreciated 44 paise to 94.92 against US dollar in early trade on Wednesday, supported by Reserve Bank of India interventions designed to ease near-term dollar demand and limit speculative foreign exchange exposure.

Forex traders said the USD/INR pair, which has gained nearly 2 per cent in the last three trading sessions, opened on a positive note on Wednesday, largely driven by regulatory measures implemented by the RBI to limit volatility and curb speculative trading.